https://www.taxtmi.com/caselaws?id=71397 The Tribunal allowed the appeals, determining that the reassessment proceedings initiated under section 147(b) of the Income-tax Act were valid. The revised instructions issued by the CBDT in 1978 constituted fresh material, justifying the reassessment based on the new exchange rate information. The matter was remanded to the Commissioner (Appeals) for further consideration on the merits. en-us Fri, 22 Jul 1983 00:00:00 +0530 Sat, 23 Apr 2011 11:45:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71397 The Tribunal allowed the appeals, determining that the reassessment proceedings initiated under section 147(b) of the Income-tax Act were valid. The revised instructions issued by the CBDT in 1978 constituted fresh material, justifying the reassessment based on the new exchange rate information. The matter was remanded to the Commissioner (Appeals) for further consideration on the merits. Case-Laws Income Tax Fri, 22 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71397